What happened: $742,459,249 worth of Bitcoin (CRYPTO: BTC) was just moved between 2 anonymous cryptocurrency wallets in a single transaction.
This mysterious person’s bitcoin wallet address has been identified as: bc1qktkgnv6hwyd4sddxpkcq5z3taxh97f2crhknz0g42we6h4e3sa8qxzrk65
$742,459,249 million worth of Bitcoin was sent to an unknown recipient, with Bitcoin wallet address: bc1qujmfpqzgz208d0uycpjyx8uad2ddjuqut70ttpz35gs2n6gflguqajk8d3
Why it matters: Cryptocurrency whales that own millions of dollars in Bitcoin tend to move markets single-handedly. If the whale decides to exit this Bitcoin position, there could be enough market impact to push down the price of BTC. It takes about $15 to $30 million of sell pressure to move the price of Bitcoin down 2% on any given exchange.
Since this transaction wasn’t sent to an exchange, it’s unlikely that this Bitcoin whale is looking for liquidity. Instead, they may be transferring this to a different wallet for security purposes.
You can view more details about the transaction here.
According to Glassnode, there are 571,895 Bitcoin wallets with a balance of over 100,000 coins.
Price Action: Bitcoin is down -3.75% in the past 24 hours.
See Also: How To Buy Bitcoin
Public Blockchain data sourced from Whale Alerts Twitter.